Union Pacific stock sheds 1.25%, snapping two-day winning streak
Updated
Updated · MarketWatch · May 7
Union Pacific stock sheds 1.25%, snapping two-day winning streak
8 articles · Updated · MarketWatch · May 7
The shares closed at $264.89 on Thursday, as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
Despite the decline, Union Pacific outperformed CSX, down 2.50%, and slightly lagged Norfolk Southern, which fell 1.22%.
The stock finished 3.60% below its 52-week high of $274.79 reached on 24 April, while trading volume of 2.0 million stayed well below its 50-day average.
US rail freight is booming, so why is Union Pacific risking it all on a controversial $85 billion merger?
With strong opposition, will Union Pacific's mega-merger create a supply chain champion or a freight monopoly?